"No contract gives either side everything they want," said IUE-CWE President Jim Clark in a statement. "But this contract does give members a pathway to put the acrimony behind us and rebuild."

Relations between management and workers have been rocky at the company's Waterford plant, where nearly 1,000 people are employed, in the 18 months since a restructuring led to pay cuts for some 400 unionized workers.

GUILDERLAND -- Capital Bank and Trust said it will close its Stuyvesant Plaza branch at the end of September and transfer those accounts to its main branch in Albany.

The bank, in an announcement Friday, noted that the branches are within two miles of each other, and that shuttering one of the locations is "a prudent business decision."

The Albany branch is located at 1375 Washington Ave. Capital Bank and Trust is a subsidiary of Fort Orange Financial Corp.

-- Chris Churchill

Waterfront project grant receives final approval

RENSSELAER -- The board of directors of Empire State Development, the state's economic development arm, has given final approval to a $1.4 million grant for a waterfront project in Rensselaer.

The money will offset some of the costs of the $300 million de Laet's Landing, a massive residential, retail and office project being developed by U.W. Marx. The Troy company expects to break ground on the project later this year.

The Restore New York grant was announced in 2008 but was officially approved by the board on Thursday. The grant is contingent on passage of the state budget.

-- Chris Churchill

Golf tournament raises funds for Make-A-Wish

SARATOGA SPRINGS -- M+W Group, the company building the $4.2 billion GlobalFoundries computer chip factory in Malta, raised $88,000 on Wednesday for the Make-A-Wish Foundation of Northeast New York through its annual golf tournament.

The Tech Valley Charity Golf Tournament, which was held at Saratoga National Golf Course, raised double the amount it collected last year in the inaugural event.

The winning team included Rick Whitney, president of M+W's U.S. operations.